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Discontinued Operations and Dispositions (Tables) | 9 Months Ended
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Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Balance sheet positions and financial information included in net income from discontinued operations and statements of cash flows | The reclassification of the Rail business's balance sheet positions as of December 31, 2023 had the following impacts on the Condensed Consolidated Balance Sheets and are summarized as follows:
(in thousands) |  |  |  | December 31 2023
Trade accounts receivable, net |  |  |  | $ | 57,415 |
Other receivables |  |  |  | 6,708 |
Inventories |  |  |  | 103,077 |
Current portion of contract assets |  |  |  | 56,341 |
Prepaid expenses |  |  |  | 28,797 |
Other current assets |  |  |  | 2,895 |
Property, plant and equipment, net |  |  |  | 44,113 |
Right-of-use assets, net |  |  |  | 7,050 |
Goodwill |  |  |  | 13,026 |
Intangible assets, net |  |  |  | 3,122 |
Deferred income tax assets |  |  |  | 973 |
Other assets |  |  |  | 22,792 |
Total assets |  |  |  | $ | 346,309 |
Accounts payable |  |  |  | $ | 44,703 |
Accrued compensation |  |  |  | 6,056 |
Income taxes payable |  |  |  | 1,434 |
Current portion of operating lease liabilities |  |  |  | 3,656 |
Current portion of advances on contracts |  |  |  | 32,912 |
Reserve for forward losses on contracts |  |  |  | 52,725 |
Other current liabilities |  |  |  | 30,550 |
Operating lease liabilities |  |  |  | 3,331 |
Deferred tax liabilities |  |  |  | 350 |
Other liabilities |  |  |  | 494 |
Total liabilities |  |  |  | $ | 176,211 |
The reclassification of the results of the Rail business to continuing operations had the following impacts on the Consolidated Statement of Operations for the three and nine months ended September 30, 2023:
|  |  |  | Three Months Ended |  |  |  | Nine Months Ended
|  |  |  | September 30 |  |  |  | September 30
(In thousands) |  |  |  | 2023 |  |  |  | 2023
Service revenues |  |  |  | $ | 17,806 |  |  |  |  | $ | 36,291 |
Product revenues |  |  |  | 54,574 |  |  |  |  | 189,989 |
Total revenues |  |  |  | 72,380 |  |  |  |  | 226,280 |
Cost of services sold |  |  |  | 11,425 |  |  |  |  | 24,341 |
Cost of products sold |  |  |  | 50,760 |  |  |  |  | 157,265 |
Total cost of sales |  |  |  | 62,185 |  |  |  |  | 181,606 |
Selling, general and administrative expenses |  |  |  | 9,124 |  |  |  |  | 29,001 |
Research and development expenses |  |  |  | 631 |  |  |  |  | 1,494 |
Other expense (income), net |  |  |  | 1,455 |  |  |  |  | 2,912 |
Total costs and expenses |  |  |  | 73,395 |  |  |  |  | 215,013 |
Operating income (loss) from continuing operations |  |  |  | (1,015) |  |  |  |  | 11,267 |
Interest income |  |  |  | 44 |  |  |  |  | 96 |
Interest expense |  |  |  | (813) |  |  |  |  | (2,165) |
Defined benefit pension income (expense) |  |  |  | 6 |  |  |  |  | 19 |
Income (loss) from continuing operations before income taxes and equity income |  |  |  | (1,778) |  |  |  |  | 9,217 |
Income tax benefit (expense) from continuing operations |  |  |  | 611 |  |  |  |  | (5,495) |
Income (loss) from continuing operations |  |  |  | $ | (1,167) |  |  |  |  | $ | 3,722 |

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